Nancy,
Per my past INDEX UPDATES I refer to divergences as healthy signals. Even the defensive stocks got hit, everything got hit during that strong pullback. But once any of the indexes starts moving up and especially starts breaking new highs in a down market, that is a sign of divergence in my technical analysis and only one indication that technical health is returning to the market. Of course it needs to be confirmed.
As you know I am purely a technical analyst, using mathematical formulas. The PNX, DRG and other defensive indexes are nothing more than individual strings on my GUITAR, which gives me a specific quantitative reading. Per my formulas, no weight is given to or taken away from for those indexes which falls under the defensive category.
Nancy, I truly wish I could get charts on the OSX. Just cant find it. Its annoying since I am getting the feeling from only the news that it is near its technical lows, but cant verify it with my analysis.
If you can direct me to a location, I would greatly appreciate it.
It appears to me that for me it will be an opportunity that I will not take part off, simply because I dont have the charts.
Seeya |
